Shake Shack, Inc. (NYSE:SHAK) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its position in shares of Shake Shack, Inc. (NYSE:SHAK - Free Report) by 157.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,957 shares of the company's stock after purchasing an additional 3,642 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Shake Shack were worth $525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHAK. Charles Schwab Investment Management Inc. grew its stake in shares of Shake Shack by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock worth $46,979,000 after purchasing an additional 8,429 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Shake Shack during the fourth quarter worth $5,105,000. Arizona State Retirement System grew its stake in shares of Shake Shack by 1.7% during the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company's stock worth $1,431,000 after purchasing an additional 182 shares in the last quarter. Amundi lifted its position in Shake Shack by 141.0% in the fourth quarter. Amundi now owns 23,896 shares of the company's stock valued at $3,174,000 after acquiring an additional 13,982 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Shake Shack by 18.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,234 shares of the company's stock valued at $1,328,000 after acquiring an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.

Shake Shack Stock Performance

NYSE SHAK traded down $2.12 during trading hours on Friday, hitting $139.91. 910,384 shares of the stock were exchanged, compared to its average volume of 1,208,726. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 499.68, a price-to-earnings-growth ratio of 3.30 and a beta of 1.77. Shake Shack, Inc. has a 12-month low of $72.93 and a 12-month high of $144.65. The stock has a 50-day moving average of $125.84 and a 200 day moving average of $111.34. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $320.90 million for the quarter, compared to analysts' expectations of $330.24 million. Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. As a group, equities research analysts forecast that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the completion of the transaction, the chief financial officer directly owned 35,750 shares of the company's stock, valued at $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 20,000 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the transaction, the director owned 367,984 shares in the company, valued at $51,543,518.88. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,391 shares of company stock valued at $11,869,925 over the last three months. 9.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SHAK has been the subject of a number of research reports. Oppenheimer reissued an "outperform" rating and issued a $160.00 price target (up from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. KeyCorp initiated coverage on shares of Shake Shack in a research report on Monday, June 2nd. They issued a "sector weight" rating for the company. Truist Financial boosted their price target on shares of Shake Shack from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday. TD Securities reissued a "hold" rating and issued a $105.00 price target on shares of Shake Shack in a research report on Thursday, June 26th. Finally, Robert W. Baird boosted their price target on shares of Shake Shack from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Shake Shack has an average rating of "Hold" and a consensus target price of $124.90.

Shake Shack Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.